Leisure is leading although individual business travel is coming back:Hyatt Hotels CEO
Mark Hoplamazian, President & CEO, Hyatt Hotels Corp, says “growth has been led by leisure travel and mostly domestic leisure travel. And the difference between the amount of money spent on domestically leisure travel versus inbound leisure travel is something like seven to one.”
It has been a couple of years that you have not visited India. How has been the mood like at HICSA 2024? What has been your reading? How is it different from, let us say, a couple of years to now?
Mark Hoplamazian: I think the difference really is that a lot of the questions that were present two years ago with respect to Covid recovery, are now answered. Secondly, the performance has been so extraordinary that it is plain to see and obvious to everyone.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitIndian School of BusinessISB Chief Technology OfficerVisitIIM LucknowIIML Chief Executive Officer ProgrammeVisitDo you think India really has that potential because a lot has been talked about it, but do you see that converting into numbers as well in terms of actual occupancy and do you really think India can be one of the top three markets?
Mark Hoplamazian: Yes, first of all, it can translate into actual numbers. Our RevPAR of last year was up 33% and year to date it is up in the mid-teens. So, the compounding effect of growth is obvious to see. It is very clear. Secondly, the growth has been led by leisure travel and mostly domestic leisure
